With 31st October fast approaching and still no certainty as to what is to happen in relation to Brexit, now could be a very good time for businesses to get their key contracts or trading terms reviewed.
To help you consider if and how your business might be affected by the UK leaving the EU, we have set out a checklist of some issues for immediate consideration on our Brexit page.
Of course Brexit is not the only reason to get important contracts reviewed. The effect of contract terms is often not obvious because contracts can be affected by terms which:
- are not included but which are nevertheless implied;
- are not included but which should be included;
- are included but which are ineffective or unenforceable;
- are included but which should not be;
- are included but the meaning of which is obscure;
- are included but which contradict other terms which are included; or
- are included but which are unclear or uncertain in the effect.
The effect will often go to the costs or risks attached to the contract and will generally favour the party who prepared the contract and be damaging to the interests of the other party. We understand that for various reasons business do not always take the opportunity to get contracts professionally prepared or reviewed, but it can be very wise and cost effective to do so.
Sydney Mitchell’s commercial team are very experienced in advising on all types of business contracts. We offer clear and practical advice and a flexible and commercial service which can be tailored to our clients’ needs and budgets.
If you have any concerns or questions regarding your contracting arrangements, please feel free to contact us on 08081668827 for a no obligation discussion to find out how we may be able help your business.
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